Construction Partners, Inc. (NASDAQ:ROAD) Shares Sold by Captrust Financial Advisors

Captrust Financial Advisors lowered its holdings in Construction Partners, Inc. (NASDAQ:ROAD) by 12.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 7,349 shares of the company’s stock after selling 1,023 shares during the period. Captrust Financial Advisors’ holdings in Construction Partners were worth $513,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Ninepoint Partners LP purchased a new stake in shares of Construction Partners during the 2nd quarter worth approximately $954,000. Segall Bryant & Hamill LLC purchased a new stake in shares of Construction Partners during the 3rd quarter worth approximately $10,377,000. Engle Capital Management L.P. purchased a new stake in shares of Construction Partners during the 2nd quarter worth approximately $5,742,000. Allspring Global Investments Holdings LLC lifted its position in shares of Construction Partners by 47.9% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 207,422 shares of the company’s stock worth $14,478,000 after buying an additional 67,150 shares during the last quarter. Finally, Westover Capital Advisors LLC purchased a new stake in shares of Construction Partners during the 2nd quarter worth approximately $674,000. Institutional investors and hedge funds own 94.83% of the company’s stock.

Analysts Set New Price Targets

Separately, Robert W. Baird upped their price target on shares of Construction Partners from $68.00 to $92.00 and gave the company a “neutral” rating in a research report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $69.00.

Insider Buying and Selling

In other Construction Partners news, Director Charles E. Owens sold 49,695 shares of the firm’s stock in a transaction on Friday, December 6th. The stock was sold at an average price of $100.81, for a total value of $5,009,752.95. Following the sale, the director now directly owns 130,291 shares in the company, valued at approximately $13,134,635.71. This trade represents a 27.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Suntx Capital Ii Management Co sold 12,731 shares of the firm’s stock in a transaction on Monday, December 9th. The shares were sold at an average price of $99.78, for a total value of $1,270,299.18. Following the completion of the sale, the director now owns 17,000 shares in the company, valued at $1,696,260. The trade was a 42.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 125,225 shares of company stock worth $12,593,083 over the last ninety days. 18.80% of the stock is owned by insiders.

Construction Partners Price Performance

NASDAQ:ROAD opened at $95.96 on Friday. The firm has a market cap of $5.36 billion, a price-to-earnings ratio of 72.70, a price-to-earnings-growth ratio of 1.22 and a beta of 0.70. The company has a current ratio of 1.54, a quick ratio of 1.26 and a debt-to-equity ratio of 0.85. The company’s 50-day moving average is $87.29 and its two-hundred day moving average is $69.82. Construction Partners, Inc. has a 12-month low of $39.79 and a 12-month high of $103.69.

Construction Partners (NASDAQ:ROAD) last announced its quarterly earnings data on Thursday, November 21st. The company reported $0.56 earnings per share for the quarter, missing the consensus estimate of $0.57 by ($0.01). The company had revenue of $538.16 million for the quarter, compared to analysts’ expectations of $538.04 million. Construction Partners had a return on equity of 12.90% and a net margin of 3.78%. The company’s revenue was up 13.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.59 earnings per share. Research analysts expect that Construction Partners, Inc. will post 1.96 EPS for the current year.

Construction Partners Company Profile

Construction Partners, Inc, a civil infrastructure company, constructs and maintains roadways in Alabama, Florida, Georgia, North Carolina, South Carolina, and Tennessee. The company provides various products and services to public and private infrastructure projects, such as highways, roads, bridges, airports, and commercial and residential developments.